If you are in the market for a good deal on great luxury real properties in Europe, check out France.
An abundant supply of high-end properties coupled with the French citizenry being forced to pay higher taxes, and an overall 10-percent reduction in prices over the past year is making luxury real estate in France look very promising to foreign investors.
While the escalating tax situation is prompting the affluent French folks to flee the country … the lower prices and robust supply of high-end homes is attracting foreigners to enter the market.
Actor GerardDepardieu is the most popular citizen of France to leave. His former residence in central Paris is one of the properties currently on the market. Mr. Depardieu originally moved to Belgium and now lives in Russia.
….While Paris notaries figures show the number of apartment sales in the capital in the first half of 2013 was 22 percent below the average of the past 10 years, such transactions rose 5 percent in the second quarter from a year earlier. Foreigners accounted for 7.7 percent of housing purchases in Paris in the first half, inching toward the record 8 percent in 2003 and 2008 and up from 7.3 percent last year, according to Paris notaries.